Project Management Trends to Watch Out for in 2017

Every year sees new business trends emerge and become popular, and 2017 is going to be no exception. So what can we expect in the project management field this year? We have analyzed this industry and have lined up a few insightful predictions on the impactful trends that are going to change project management as we know it.

Till now, agile project management has primarily been used in software development. But steadily agile is being adopted in other fields too. For instance, finance professionals use Scrum, editors use kanban systems to organize content, and marketers are also known to utilize agile methods. Other fields and users that have introduced agile in their workflows include construction management, pet food producers, UX professionals, and graphics designers. All this shows that agile is no longer restricted to the IT domain. To select a good agile project management it is best to see what experts and users have to say, so we’d advise consulting a reliable B2B listing directory before making a choice.

We are likely to see the widespread use of collaboration software apps over conventional project management systems. Vendors of applications such as Slack, Jive, and Yammer are bound to benefit from this trend. If companies are already using these and similar systems they would prefer to continue with them.  However, the main point is these collaboration platforms are not designed for project management which means users will need to adapt them.  The project manager will be forced to use his change management expertise to ensure effective adoption of these products. 

Use of project portfolio management (PPM) solutions in new product development (NPD)

Project portfolio management software has become popular in the field of enterprise product creation and new brands include UMT360, Sopheon, Planview, PDWare, GenSight, and Decision Lens. NPD has merged with PPM mainly because of the Internet of Things and the adoption of agile.  These developments are forcing product developers to focus on delivering new improved products to their consumers. They cannot do so with traditional PPM software, so they are turning to NPD PPM for the task. Similar to agile, NPD PPM is spreading to other fields and innovators are like to apply this strategy to offline solutions too.

Emotional intelligence (EQ) has become essential for project managers

Soft skills and EQ are important to be successful as a project manager. EQ is the ability to spot and manage your emotions and those of others.  It includes three main skills: emotional awareness, using emotions effectively for tasks such as problem solving and thinking, and managing and regulating your emotions as well as being able to calm down or cheer up other people. EQ surveys reveal that emotional intelligence has a big effect on performance. They indicate that managers are more optimistic compared to non-managers. Teams and leaders that exhibit EQ show much better business results in terms of engagement, lower turnover, customer loyalty, productivity, and profitability. However, the worrying trend is total EQ scores are declining internationally and IT is lagging behind compared to other industries. All this shows that apart from PM skills, you also need to possess EQ to make a mark especially in telecom and IT industries.

Certifications are losing value

The PMP test and PRINCE2 are two project management certifications that have been existing for a long time. But of late, many are questioning their value and asking whether the accompanying cost is worth it. This is because exam content is not being updated to keep up with today’s business requirements.

As a result, small companies are paying less attention to project management professionals (PMPs) as all they need is someone who has the ability to manage projects efficiently. Larger enterprises are likely to follow the trend which means they will not be specifically looking for PMPs for their job openings. Therefore, if you have a secure project management job, do not bother to get the PMP recertification this year.

Emphasis on professionalism

Project management requires professionalism but many businesses do not pay adequate attention to this aspect. This is bound to change as companies realize that they can’t get away with paying scant attention to professionalism and understand that they need to adopt a more robust approach to executing projects. This is essential because project management is a complicated and huge task. Even small businesses realize that they need to use effective project management solutions. There are many good products available in the market and they can do some research to find a solution that scales to their needs. Needless to say, a quality project management system can be the starting point for businesses in their bid to infuse much-needed professionalism in their approach to project management. 

Big data is vital

When it comes to technology trends impacting project management, the foremost one seems to be big data. The software tools we use contain loads of data including about the estimates our team fails to achieve and the risks that are logged.

This sort of data cannot be held in the head and you need a software solution that processes big data efficiently and effectively to get useful insights based on which you can make smart decisions. This type of software can provide you the actuals and estimates, and enables you to identify team members who lag behind and need extra training to be more productive in their work. 

Blended methodology

 Are you using Agile, waterfall, or some other method? The method is becoming less important as what matters more is whether you are able to get the project work done efficiently and on schedule.  So, a blended methodology that uses different aspects of Scrum, waterfall, and any other method is most welcome as long as it provides the required results. If the blended method is paying off and helping you to improve project success ratios then you should focus on increasing business benefit and value. So do not waste time debating on the template or method you use. 

Integrate the learning from legacy projects

If your company has completed big projects successfully previously, then it is important to take vital project management lessons from them. Project managers can conduct training for their team members on the effective approaches and methods that were utilized to achieve success on previous projects. Then, the team should look to replicate the methods in their current and future projects. This emphasis on learning and application of lessons is a likely big trend this year.

Collaboration is essential

Project managers need to practice effective change management to be more effective. Collaboration has also become essential for success. Teams are becoming increasingly remote and widespread, and activist and consumer groups demand greater attention. It is important for project managers to engage all stakeholders and take them along on the path to successful project execution.

Bottom line

We hope this article has primed you on the key trends that are expected to impact project management this year. If you know about any other developments or trends that are having an effect on project management, feel free to share the details with us.